Westlake takes near-total control of China PVC joint venture
Westlake Chemical Corp. has acquired an additional 35.7% interest in Suzhou Huasu Plastics Co. Ltd., a PVC resin and downstream fabrication joint venture based near Shanghai, China.
Westlake bought the additional shares from Ineos ChlorVinyls Holdings B.V., its partner in the JV. Westlake now owns a 95% interest in the JV.
“We are pleased to increase our shareholding in this important joint venture serving the Chinese and export markets,” Albert Chao, president and CEO of Westlake, said in a statement. “We wish to thank Ineos for its past support and contribution toward the growth of Suzhou Huasu Plastics.”
Headquartered in Houston, Westlake is an international manufacturer and supplier of petrochemicals, polymers and building products. The company’s range of products includes ethylene, polyethylene, styrene, propylene, caustic, VCM, PVC suspension and specialty resins and PVC building products including pipe and specialty components, windows, fence, deck and film.